TransAtlantic Petroleum (NYSEMKT:TAT) asks to delay its 10-K filing, citing the decline in oil prices during 2015, the classification of its Albanian segment as discontinued operations and the company's ongoing processes to sell assets and restructure its debt.

TAT says it expects to report a FY 2015 net loss from continuing operations of $20M-$30M and a net loss from discontinued operations of $70M-$80M, primarily due to the impairment of its Albanian segment.